Europe is against Libra. Who else?

[ice18]

I really dont know why this regulators are so afraid of Libra project? Even if this company are willing comply all the needed papers required by the law, the facebook has millions of users worldwide and because of this many people may educate what is cryptocurrency is and how useful crypto is, they are afraid that in the future people will abandon fiat money and turn into digital money that cannot be controlled by anyone.

[yurekaa]

crypto money refusal and acceptance I think is normal. bitcoin is also like that there are those who reject and those who accept. and in my opinion some European countries reject Libra because they are afraid that Libra can disrupt the world economic system. because libra was released by facebook whose users had already reached 2 billion users. so if all users have libra and then there is a problem or interference with libra, of course it will have a big impact. so maybe libra needs regulation.

[darkangel11]

Who isn't...

It's kinda sad to see a company that actually had decent ideas just end up making so many mistakes and then their partners and other countries ending up shaming them, they had a decent idea of how to use blockchain technology in real life fiat applications.

I don't think they'll be able to go anywhere now, they have no support from anyone and it just looks like a money trap nowadays.

I pretty much feel the same. I don't like facebook and Zuckerberg very much but Libra is a good idea. A mainstream fiat company is going crypto, even if it's a centralized stablecoin, it's still crypto. This means that the average person who uses FB and doesn't know anything about cryptocurrencies will have questions.
There's a bad way this could go. Zuckerberg acting like Roger Ver would be one of the worst outcomes for BTC, but let's give them a chance. We should support this project for their sheer effort.

[gentlemand]

If nothing else the amount of heat and hate Libra is attracting should serve as a powerful reminder that if Bitcoin ever wound up with verifiable and identifiable centralisation everything would turn to shit in a moment.

There are only two viable options in this area - full government sanction or none whatsoever. Anything in the middle is stillborn guaranteed.

[InvoKing]

After the withdrawal of Visa, Mastercard, PayPal...it is getting harder for Libra to have a high impact, of course if ever it gets launched!
https://www.theverge.com/platform/amp/2019/10/11/20910330/mastercard-stripe-ebay-facebook-libra-association-withdrawal-cryptocurrency

[fullhdpixel]

The whole crypto world is against it

yes, there is a point. whole crypto is about decentralization and freedom and anonymity
while Libra and facebook proves one thing - they are against it
so I hope facebook won't succeed !

Lol, you have said my mind, it is a fight they are bringing to us which their system will even favor the government more than us. First, they have created a centralized coin which if used will really exposed lots of us to government, and secondly, they are going to have a stable coin which is not going to benefit us in anyway because of its lack of volatility, so why then should I use Facebook coin when it will not benefit us in anyway.

People can never stand by Facebook coin as much as they do stand with bitcoin, because they know what the worth of bitcoin is to them financially and Technology wise, that is why people will stand against government at any time if they really go for a fight against bitcoin, but people will join government in attacking Libra coin that is a centralized one.

[TrevorS]

The whole crypto world is against it

yes, there is a point. whole crypto is about decentralization and freedom and anonymity
while Libra and facebook proves one thing - they are against it
so I hope facebook won't succeed !

Lol, you have said my mind, it is a fight they are bringing to us which their system will even favor the government more than us. First, they have created a centralized coin which if used will really exposed lots of us to government, and secondly, they are going to have a stable coin which is not going to benefit us in anyway because of its lack of volatility, so why then should I use Facebook coin when it will not benefit us in anyway.

People can never stand by Facebook coin as much as they do stand with bitcoin, because they know what the worth of bitcoin is to them financially and Technology wise, that is why people will stand against government at any time if they really go for a fight against bitcoin, but people will join government in attacking Libra coin that is a centralized one.

No one forces you to use the services of Libra. If you are for anonymity and decentralization, excellent, there are many options that you will be comfortable with.
There are people who, on the contrary, prefer banking financial institutions and complete centralization to cryptocurrencies, and options must also be created for them. In addition, we already live in a centralized world that is becoming more centralized. Passports, cameras, chips, identification, doctors, insurance and so on. Probably the future will be completely centralized.

[jostorres]

We don't know what happened with it tho, I mean they asked Libra development to be stopped in the sense that they can't release a full product just for now, as in they can develop it further but then they would have to be researched once again for the new version, so the July version of Libra probably get researched in depth but we have no idea what came to be about it, maybe they liked it, maybe they hated it, we have no clue about what congress thinks about it.

I doubt they liked it considering every single thing about crypto has been postponed many many times before in order to reach to a verdict but since we don't know what happens to this one all of it would be speculation. As soon as congress gives a public verdict about Libra we will get to see how legitimate Libra will be.

[RealMalatesta]

After the withdrawal of Visa, Mastercard, PayPal...it is getting harder for Libra to have a high impact, of course if ever it gets launched!
https://www.theverge.com/platform/amp/2019/10/11/20910330/mastercard-stripe-ebay-facebook-libra-association-withdrawal-cryptocurrency

They are only lacking the support of these platforms, but it can never get harder for them to make an impact because if you compare the platform of these companies to them, you will see that Facebook even have a larger user than them and if these payment system you are talking do not support, that should still not stop Facebook Libra coin from fully getting established and support for people.

Libra platform if it is being operated by these financial institutes, it is possible for it to actually over take them and I think this is the reason why they are all very scared of the platform and not giving it the full support that is needed. My brother, with or without PayPal and the rest which I never even like also, because they are all the same, all government agencies, Facebook will still thrive well.

[Afnan_faizah]

Hey everyone.
Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

Actually we don't really know what the exact reason behind the creation of this libra. When mark zuckerberg was on trial because of personal information problems on facebook users, many people suspected that mark had had a special relationship with the government. But we should not be prejudiced againts facebook. My personal opinion is we don't need to argue about that statement will be changed or not, maybe it's better for us to focus on the main purpose of the creation of libra which is to reach the current unbanked population. I hope europe and all continent will accept libra because it can indirectly increase the price of bitcoin. I don't think that cryptocurrency pose a risk to consumer or financial stability, but I think cryptocurrency can improve the world economy if government regulate it in a good way.

[btc_angela]

I really dont know why this regulators are so afraid of Libra project? Even if this company are willing comply all the needed papers required by the law, the facebook has millions of users worldwide and because of this many people may educate what is cryptocurrency is and how useful crypto is, they are afraid that in the future people will abandon fiat money and turn into digital money that cannot be controlled by anyone.

And why would a government bent to Facebook? It's about control here, would a perfect and working government would succumb to world dominance by a certain company? I don't think they will allow that scenario in the future that's why they are going at Facebook/Libra as early as today so that it would took off next year.

[jaocoincrypto18]

After the withdrawal of Visa, Mastercard, PayPal...it is getting harder for Libra to have a high impact, of course if ever it gets launched!
https://www.theverge.com/platform/amp/2019/10/11/20910330/mastercard-stripe-ebay-facebook-libra-association-withdrawal-cryptocurrency

The crypto community are on Libra project in which all are waiting for the Facebook decision if they will still continue their project or not but i heard that they are contacting and negotiating new strategic partners to replace those payment companies who pulled out from the project so lets just wait and see then of what will be the faith of this Libra project.

[nasipadang]

Hey everyone.
Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

We don't know if they haven't launched libra and how the market will react. From the analysis of the decision and react of many figures, the possibility of something worse could happen to libra and cryptocurrency. Cryptocurrency can exceed people's expectations, so before launch I don't think there is a certain prediction about what will happen.

[Sithara007]

The crypto community are on Libra project in which all are waiting for the Facebook decision if they will still continue their project or not but i heard that they are contacting and negotiating new strategic partners to replace those payment companies who pulled out from the project so lets just wait and see then of what will be the faith of this Libra project.

As per the latest available information, they still have one payment processor supporting them (PayU of the Netherlands). If they could bring in more partners, then it will strengthen the project without any doubt. And Facebook is one of the largest corporations in the world and they should be able to convince some of the medium level players in this field to join them.

Naspers just recently released a statement confirming its continued support for the Libra project. To clarify a little bit, PayU is the online payments division of Naspers and currently they are the only such company still present in the Libra platform (after the exit of PayPal, Visa, Mercado Pago.etc). And PayU is not a small player. It has market coverage in a large number of nations.

[Colt81]

Hey everyone.
Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

I think people in Europe are just playing safe because Libra is a part of Facebook, which U.S. government would be involved in launching this project in 2020 that there would be a havoc in cryptocurrency, that is why a lot of people has doubts and do not agree in this project.

[NewRanger]

Hey everyone.
Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

I think people in Europe are just playing safe because Libra is a part of Facebook, which U.S. government would be involved in launching this project in 2020 that there would be a havoc in cryptocurrency, that is why a lot of people has doubts and do not agree in this project.

maybe they worry about their privcy.although there is no correlation between this projects with privacy.but the company behind that affraided .actually libra will be good representation from giant company that participate in blockchain developtment.market should be optimism while there is good sign for top company.

[JeffBrad12]

Hey everyone.
Yesterday I've read an article about European countries opinion on Facebook's Libra. There are a lot of negative statements about it. (Not without Trump's tweets, of course).
What's interesting - there were no official responce from Libra yet. But they still planning to launch it in 2020.

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

I think people in Europe are just playing safe because Libra is a part of Facebook, which U.S. government would be involved in launching this project in 2020 that there would be a havoc in cryptocurrency, that is why a lot of people has doubts and do not agree in this project.

maybe they worry about their privcy.although there is no correlation between this projects with privacy.but the company behind that affraided .actually libra will be good representation from giant company that participate in blockchain developtment.market should be optimism while there is good sign for top company.

there IS a correlation between this project and privacy. I'm pretty sure that to own this coin they will definitely requires a data verification not to mention that there are something Facebook has done in the past which is considered as stealing data unbeknown by the user.
It's not about Facebook as a giant company participating in blockchain development that actually didn't take most of the people attention at the very least but the fact that Facebook has compromised and violating its user privacy in the past.
It's totally understandable if Libra is facing against the regulation backlash, they also attracting so much attention and that could be a good thing and a bad thing in this case.

[darewaller]

Actually we don't really know what the exact reason behind the creation of this libra. When mark zuckerberg was on trial because of personal information problems on facebook users, many people suspected that mark had had a special relationship with the government. But we should not be prejudiced againts facebook. My personal opinion is we don't need to argue about that statement will be changed or not, maybe it's better for us to focus on the main purpose of the creation of libra which is to reach the current unbanked population. I hope europe and all continent will accept libra because it can indirectly increase the price of bitcoin. I don't think that cryptocurrency pose a risk to consumer or financial stability, but I think cryptocurrency can improve the world economy if government regulate it in a good way.

I think that world creating a system for the unbanked is what is really getting Facebook into issue right now which is why the government don’t even want to accept the Libra coin because the number of the unbanked people is very high and majority of even the banked that has been looking for the opportunity to leave the system of government would actually go for Libra coin.

I really still don’t know if Libra coin will be able to make it with all these attacks, but I hope that they do make it because with the contribution of bitcoin and Facebook Libra coin to the economy, there is really going to be a very huge success in the adoption of cryptocurrency worldwide. Europe might be against the coin, but there is really nothing that I feel they can do about it, just like the US cannot do anything to destroy bitcoin.

[supercanada1]

The crypto community are on Libra project in which all are waiting for the Facebook decision if they will still continue their project or not but i heard that they are contacting and negotiating new strategic partners to replace those payment companies who pulled out from the project so lets just wait and see then of what will be the faith of this Libra project.

As per the latest available information, they still have one payment processor supporting them (PayU of the Netherlands). If they could bring in more partners, then it will strengthen the project without any doubt. And Facebook is one of the largest corporations in the world and they should be able to convince some of the medium level players in this field to join them.

Naspers just recently released a statement confirming its continued support for the Libra project. To clarify a little bit, PayU is the online payments division of Naspers and currently they are the only such company still present in the Libra platform (after the exit of PayPal, Visa, Mercado Pago.etc). And PayU is not a small player. It has market coverage in a large number of nations.

In that case, we can say that it will take some time before Libra is really out of the game. Now that you know PayPal and many other big names stopped supporting Libra then I assume you also know the reason behind doing so. Clearly, no one gave the statement for leaving Libra project in the middle but if you ask me, it is much better to go for bitcoin instead of some currency being controlled by an organization having links with agencies.

[coinfinger]

My question is - will launching Libra change the statement 'cryptocurrency is not money' in better way or it'll make worse?

Well, that for sure would always be their reaction. When Libra was first announced, Wall Street and Banker's comments were all filled with skepticism. Since Libra is an unregulated cryptocurrency, the government has been against the idea.

If the project is successful, I know for sure that it would be one of the most competitive cryptocurrencies there is, and it might be up to the level of competing with Bitcoin for the number one position. Facebook is already a big platform and they will be able to push the coin. And adding that they partnered with a major players in the payment space, like PayPal, it will help cause the coin to be adopted quickly.